Algoma Steel Group Target of Unusually Large Options Trading (NASDAQ:ASTL)

Algoma Steel Group Inc. (NASDAQ:ASTL - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 20,493 call options on the stock. This is an increase of approximately 616% compared to the typical daily volume of 2,861 call options.

Algoma Steel Group Stock Performance

Shares of Algoma Steel Group stock traded down $0.20 on Wednesday, hitting $6.69. The stock had a trading volume of 725,028 shares, compared to its average volume of 802,647. The stock has a market cap of $701.98 million, a price-to-earnings ratio of -4.34 and a beta of 1.56. The company has a current ratio of 3.10, a quick ratio of 1.47 and a debt-to-equity ratio of 0.42. Algoma Steel Group has a 52-week low of $4.17 and a 52-week high of $12.14. The company's 50 day moving average price is $5.65 and its 200 day moving average price is $6.92.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.36. The business had revenue of $359.30 million during the quarter, compared to the consensus estimate of $327.56 million. Algoma Steel Group had a negative return on equity of 12.98% and a negative net margin of 8.15%. On average, research analysts anticipate that Algoma Steel Group will post -0.63 EPS for the current year.

Algoma Steel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Tuesday, May 13th. Algoma Steel Group's payout ratio is currently -12.99%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ASTL. Terril Brothers Inc. purchased a new position in Algoma Steel Group in the 4th quarter valued at $214,000. Scheer Rowlett & Associates Investment Management Ltd. increased its position in shares of Algoma Steel Group by 1.0% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,179,362 shares of the company's stock valued at $21,320,000 after buying an additional 22,049 shares in the last quarter. Corient Private Wealth LLC acquired a new position in shares of Algoma Steel Group during the 4th quarter worth $147,000. American Century Companies Inc. raised its stake in shares of Algoma Steel Group by 3.2% during the 4th quarter. American Century Companies Inc. now owns 172,428 shares of the company's stock worth $1,689,000 after buying an additional 5,296 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its position in shares of Algoma Steel Group by 100.0% in the 4th quarter. Heartland Advisors Inc. now owns 200,000 shares of the company's stock worth $1,956,000 after buying an additional 100,000 shares in the last quarter. 72.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ASTL has been the subject of several recent analyst reports. Royal Bank Of Canada raised shares of Algoma Steel Group to a "hold" rating in a research report on Tuesday, April 22nd. Stifel Canada lowered Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Finally, BMO Capital Markets cut shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a report on Monday, June 2nd.

Algoma Steel Group Company Profile

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.